Summary Box: Swiss bank chief defends dollar deals

FILE - In this Sept. 6, 2011 file photo Philipp Hildebrand, president of the Swiss National Bank (SNB), as he gives a statement in Bern, Switzerland. The Swiss National Bank president faces scrutiny over a currency trading deal in which his wife profited from the central bank's decision to depress the value of the franc. Zurich daily Blick reported Tuesday Jan. 3, 2012 that Hildebrand's wife Kashya bought half a million US dollars in August and sold them two months later earning her 61,000 francs (US dollars 65,000).

SPEAKING UP: Switzerland's central bank chief broke his silence over currency purchases his wife made from a joint account just as he was leading efforts to lower the value of the Swiss franc.

THE DEFENSE: Banker Philipp Hildebrand dismissed suggestions he should resign over the deals, saying his only mistake was to let his wife conduct a particularly sensitive transaction.

THE KEY DEAL: Asked why he didn't reverse a purchase of more than $500,000 by his wife, a former currency trader, he responded: "Let's just say my wife has a strong personality." Using francs to buy other currencies at that point meant the couple effectively was speculating against the value of the franc.